Oil prices extended gains on Wednesday as a larger than expected fall in U.S. crude inventories and escalating geopolitical tensions raised investor worries about tighter supplies.
The dollar was on the front foot on Wednesday, pinning the yen near its lowest its decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency.
Phillip Capital has initiated coverage on the Malaysian rubber glove sector with an “overweight” rating and said the supply-demand dynamics for the glove market are expected to further recover in 2024.
Asian stocks rose on Tuesday and the dollar firmed, keeping the yen pinned near the 152-per-dollar levels that has traders worried about possible intervention, as expectations that the Federal Reserve was close to cutting interest rates faded.
New home prices in China rose at the fastest pace in more than two and a half years in March versus a month earlier, a private survey showed on Monday, driven by a slew of supportive steps to prop up the crisis-hit property sector.
China's $18.6 trillion economy has skirted some near-term downside risks as suggested by recent indicators, analysts said, buying officials more time to convince investors they can fire up a new growth engine for 2024 and the years ahead.